MALACAÑANG
ManilaBY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER No. 471 November 17, 2005
DIRECTING THE MERGER OF THE BOARD OF LIQUIDATORS (BOL) AND THE PRIVATIZATION AND MANAGEMENT OFFICE (PMO)
WHEREAS, Executive Order 372 (s. 1950) mandated the Board of Liquidators (BOL) to gradually settle, dispose of and convey properties of abolished government corporations and former-enemy-owned entities within three years of the Board’s creation;
WHEREAS, Executive order 323 (s. 2000) created the Privatization and Management Office (PMO) to implement a disposition program for government corporations, assets and idle properties upon approval of the Privatization Council, which oversees the privatization program of the government;
WHEREAS, the merger of the BOL with PMO will expedite the liquidation of assets and properties of abolished agencies under the stewardship of the BOL and improve the efficiency of the privatization program by removing duplicative functions in asset disposition;
WHEREAS, it is the Administration’s policy to undertake a streamlining program to transform the bureaucracy into an efficient and results–oriented organization;
WHEREAS, under existing laws and jurisprudence, the President...
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Executive Orders
Directing The Merger of the Board of Liquidators (BOL) and The Privatization and Management Office (PMO)
Executive Order No. 471
Summary of Executive Order No. 471
Merger of Board of Liquidators (BOL) and Privatization and Management Office (PMO)
- The functions, rights, personnel, properties, assets, resources, technologies, materials, records, obligations and liabilities of the BOL are merged with the PMO. (Section 1)
- The PMO shall be the surviving entity, and its administrative policies and operational guidelines shall govern all transactions and disposition of the assets of the BOL. (Section 1)
Rationalization Plan
- Within 60 days, the Privatization Council (PrC), in consultation with BOL and PMO, shall formulate and implement a rationalization and integration plan. (Section 2)
- The plan shall include: core functions, programs, activities and services; changes in policy directions, functions, programs, staffing patterns and resources allocation; actions on units, functions, programs and projects to be scaled down, phased out or abolished; financial restructuring plan; and internal and external communication plan. (Section 2)
- The plan shall be submitted to the Department of Budget and Management (DBM) for approval. (Section 2)
Remittance and Utilization of Revenues
- The PMO shall be allowed to retain a portion not exceeding 10% of the proceeds from the disposition of BOL properties, which shall serve as the revolving fund for payment of costs and expenses. (Section 3)
- The net proceeds from the disposition of all BOL properties shall be remitted to the National Treasury, with 60% for the Agrarian Reform Fund and 40% for the General Fund. (Section 3)
- All special funds under Section 5 of EO 372 (s. 1950) shall be referred to the Permanent Committee under Section 45, Book VI of EO 292 (1987) for evaluation and possible reversion to the General Fund. (Section 3)
Budget for the Merged PMO
- Upon merger, the operational income of the BOL shall be transferred to the PMO. (Section 4)
- By the fiscal year 2006, the budget for the operations of the merged PMO and BOL shall be incorporated in the General Appropriations Act. (Section 4)
Early Retirement for Affected Personnel
- BOL personnel who may be affected by the merger shall be offered the early retirement/separation benefits under Executive Order 366 (s. 2004). (Section 5)
Role of the Privatization Council (PrC)
- The PrC shall have the authority to approve any action on the disposition of properties of abolished agencies under the merged PMO, including all pending disposition transactions of BOL awaiting final action from the Office of the President. (Section 6)
- The PrC shall issue the implementing guidelines for the effective implementation of this Executive Order. (Section 6)
- The PrC shall monitor and assist the BOL and PMO in the implementation of activities affecting the merger. (Section 6)
Reporting Requirements
- The PMO shall submit a report to the Office of the President (OP), copy furnished to the PMS, on the status of the merger within 30 days after the effectivity of this Order and every quarter thereafter or as often as may be required by the OP. (Section 7)
Repealing Clause
- EO 372 (s. 1950), EO 350 (s. 2004), and all other orders, rules and regulations, and other issuances or parts thereof which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly. (Section 8)
Effectivity
- This Executive Order shall take effect immediately after its publication in the Official Gazette or in a newspaper of general circulation. (Section 9)
Merger of Board of Liquidators (BOL) and Privatization and Management Office (PMO)
- The functions, rights, personnel, properties, assets, resources, technologies, materials, records, obligations and liabilities of the BOL are merged with the PMO. (Section 1)
- The PMO shall be the surviving entity, and its administrative policies and operational guidelines shall govern all transactions and disposition of the assets of the BOL. (Section 1)
Rationalization Plan
- Within 60 days, the Privatization Council (PrC), in consultation with BOL and PMO, shall formulate and implement a rationalization and integration plan. (Section 2)
- The plan shall include: core functions, programs, activities and services; changes in policy directions, functions, programs, staffing patterns and resources allocation; actions on units, functions, programs and projects to be scaled down, phased out or abolished; financial restructuring plan; and internal and external communication plan. (Section 2)
- The plan shall be submitted to the Department of Budget and Management (DBM) for approval. (Section 2)
Remittance and Utilization of Revenues
- The PMO shall be allowed to retain a portion not exceeding 10% of the proceeds from the disposition of BOL properties, which shall serve as the revolving fund for payment of costs and expenses. (Section 3)
- The net proceeds from the disposition of all BOL properties shall be remitted to the National Treasury, with 60% for the Agrarian Reform Fund and 40% for the General Fund. (Section 3)
- All special funds under Section 5 of EO 372 (s. 1950) shall be referred to the Permanent Committee under Section 45, Book VI of EO 292 (1987) for evaluation and possible reversion to the General Fund. (Section 3)
Budget for the Merged PMO
- Upon merger, the operational income of the BOL shall be transferred to the PMO. (Section 4)
- By the fiscal year 2006, the budget for the operations of the merged PMO and BOL shall be incorporated in the General Appropriations Act. (Section 4)
Early Retirement for Affected Personnel
- BOL personnel who may be affected by the merger shall be offered the early retirement/separation benefits under Executive Order 366 (s. 2004). (Section 5)
Role of the Privatization Council (PrC)
- The PrC shall have the authority to approve any action on the disposition of properties of abolished agencies under the merged PMO, including all pending disposition transactions of BOL awaiting final action from the Office of the President. (Section 6)
- The PrC shall issue the implementing guidelines for the effective implementation of this Executive Order. (Section 6)
- The PrC shall monitor and assist the BOL and PMO in the implementation of activities affecting the merger. (Section 6)
Reporting Requirements
- The PMO shall submit a report to the Office of the President (OP), copy furnished to the PMS, on the status of the merger within 30 days after the effectivity of this Order and every quarter thereafter or as often as may be required by the OP. (Section 7)
Repealing Clause
- EO 372 (s. 1950), EO 350 (s. 2004), and all other orders, rules and regulations, and other issuances or parts thereof which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly. (Section 8)
Effectivity
- This Executive Order shall take effect immediately after its publication in the Official Gazette or in a newspaper of general circulation. (Section 9)